OREANDA-NEWS. August 29, 2014. Yandex (NASDAQ: YNDX), one of the largest European internet companies and the leading search provider in Russia, has announced changes in its senior management team.

Alexander Shulgin, currently the group’s Chief Financial Officer, has been appointed Chief Operating Officer of Yandex’s Russian business, effective September 1. In his new role, Mr. Shulgin will be the principal executive in charge of operations of Yandex’s Russian business.

Greg Abovsky will be promoted to Chief Financial Officer to replace Mr. Shulgin, also effective September 1.

Arkady Volozh will remain the Chief Executive Officer of Yandex N.V., the holding company managing the entire Yandex Group, with overall responsibility for the development of Yandex products both in Russia and abroad.

“In Russia, Yandex is a large, successful business,” said Arkady Volozh. “Managing a company of this scale demands a lot of time and energy. I’m delighted that Alexander Shulgin will be assuming this responsibility. He is ideally positioned to take on the role of an operational executive for Yandex’s Russian business. His promotion will allow me to focus my energies on broader strategic initiatives, including expansion into new business models and markets and developing new areas to apply our technologies.”

Alexander Shulgin joined Yandex in 2010 in the position of Chief Financial Officer, leading the effort on Yandex’s IPO on the NASDAQ Global Select Market in 2011. Before joining Yandex, he spent 10 years working in various financial positions with Coca-Cola Hellenic, becoming Chief Financial Officer of Coca-Cola Hellenic Russia in 2007. He has a degree in management from Rostov-on-Don State University.

Greg Abovsky joined Yandex as its Vice President of Investor Relations in January 2013 and took on the additional role of VP of Corporate Development in October 2013. He began his career in the investment banking division of Morgan Stanley, and has over 14 years of experience in a variety of finance and investment management roles in the media and technology sectors. He holds a B.A. in Business Economics and Russian Literature from Brown University and an M.B.A. with High Distinction from Harvard Business School.